Finance People | All Faculty | MSF Program

Jeffrey R. Brown

Dean, College of Business and Josef and Margot Lakonishok Professor in Business and Dean and
William G. Karnes Professor of Finance


Educational Background

Ph.D., Economics, Massachusetts Institute of Technology, 1999
M.P.P., Public Policy, Harvard University, 1995
B.A., Economics and Political Science, Miami University, 1990

Positions Held

Professor (courtesy appointment), University of Illinois Institute of Government and Policy Affairs, 2011 to present
Research Fellow, Netspar (Network for Studies on Pensions, Aging and Retirement), Netherlands, 2008 to present
Editor, Tax Policy and the Economy, National Bureau of Economic Research, 2008 to present
William G. Karnes Professor of Finance, University of Illinois, 2007 to present
Director of Center for Business & Public Policy, University of Illinois, 2007 to present
Professor of Law (courtesy appointment), University of Illinois College of Law, 2010-2013
Member, Board of Directors, American Risk and Insurance Association, 2010-2013
Professor of Economics (courtesy appointment), University of Illinois Department of Economics, 2008-2013
Fellow, TIAA CREF Research Institute, 2007-2013
Research Associate, Public Economics Program, National Bureau of Economic Research, 2005-2013
Research Associate, Economics of Aging Program, National Bureau of Economic Research, 2005-2013
Associate Director, NBER Retirement Research Center, 2003-2013
Faculty Affiliate, University of Illinois Institute for Government and Policy Affairs (IGPA), 2007-2011
Founding Member, Institutional Retirement Income Research Council, 2008-2009
Member of Advisory Committee, Academy on Capitalism and Limited Government, 2007-2009
Fellow, China Center for Social Security and Insurance Research (Beijing Univ.), 2005-2009
Julian Simon Faculty Fellow, University of Illinois, 2005-2007
Sandell Grant Selection Committee, Retirement Research Consortium, 2009-2012
Member of Annual Meeting Program Committee, American Risk and Insurance Association (ARIA), 2001-2002, 2011
Public Trustee Nominee, U.S. Social Security and Medicare Trust Funds, Nominated by President Bush, February 2008, Nomination Expired Unconfirmed December 2008, 2008
Member, Social Security Advisory Board; Recess Appointment by President Bush, October, 2006. Confirmed by U.S. Senate, December 2006., 2006-2008
Dissertation Fellowship Committee Member, Retirement Research Consortium, 2006-2008
Associate Professor, University of Illinois, 2005-2007
Member of Search Committee for new Editor of the Journal of Risk and Insurance, American Risk and Insurance Association (ARIA), 2006
Assistant Professor of Finance, University of Illinois, 2002-2005
Faculty Research Fellow, Public Economics Program, National Bureau of Economic Research, 1999-2005
Faculty Research Fellow, Economics of Aging Program, National Bureau of Economic Research, 1999-2005
Member of Selecction Committee for Kulp-Wright Book Award, American Risk and Insurance Association (ARIA), 2004
Research Associate, BC Center for Retirement Research, 2000-2003
Economist, President"s Commission to Strengthen Social Security, 2001-2002
Senior Economist, White House Council of Economic Advisers, 2001-2002
Faculty Research Fellow, Harvard Center for Business and Government, 2001-2002
Assistant Professor of Public Policy, Harvard University, John F. Kennedy School of Government, 1999-2002
Member of Officer Nominating Committee, American Risk and Insurance Association (ARIA), 2001
Brand Manager, Health Care Division, The Procter & Gamble Company, 1993

Recent Publications

Brown, J., Ivkovich, Z., Weisbenner, S. Forthcoming. Empirical Determinants of Intertemporal Choice. Journal of Financial Economics

Brown, J., Poterba, J., David, R. Forthcoming. Do Required Minimum Distributions Matter? The Effect of the 2009 Holiday on Retirement Plan Distributions. Journal of Public Economics

Brown, J. with Caroline Hoxby (Ed.). 2015. How the Great Recession Affected Higher Education. Chicago, IL: University of Chicago Press.

Brown, J., Dimmock, S., Weisbenner, S. 2015. The Supply and Demand for Charitable Donations to Higher Education.. In Jeffrey R. Brown and Caroline M. Hoxby (Ed.), How the Financial Crisis and Great Recession Affected Higher Education, 151-174. Chicago, IL: University of Chicago Press.

Brown, J. 2014. Income as the Outcome: How to Broaden the Narrow Framing of U.S. Retirement Policy. Risk Management and Insurance Review, 17: 7-16

Brown, J. 2014. Reforming Pensions Subject to Political and Legal Constraints: The Illinois Experience. National Tax Journal, 67: 941-964

Brown, J., Weisbenner, S. 2014. Why Do Individuals Choose Defined Contribution Plans? Evidence from Participants in a Large Public Plan. Journal of Public Economics, 116: 35-46

Brown, J., Weisbenner, S. 2014. Defined Contribution Plans as a Foundation for Retirement Security. Journal of Retirement, 1: 22-45

Brown, J., Dimmock, S., Kang, J., Weisbenner, S. 2014. How University Endowments Respond to Financial Market Shocks: Evidence and Implications. American Economic Review, 104: 931-962

Brown, J., Weisbenner, S. 2013. The Distributional Effects of the Social Security Windfall Elimination Provision. Journal of Pension Economics and Finance, 12: 415-434

Brown, J., Kling, J., Mullainathan, S., Wrobel, M. 2013. Framing Lifetime Income. Journal of Retirement, 1: 27-37

Honors and Awards

Robert Mehr Award for paper published in the Journal of Risk and Insurance that has best stood the test of time", American Risk and Insurance Association, 2013

University Scholar, University of Illinois, 2011-2013

BlackRock Prize, 25th Australasian Finance and Banking Conference, 2012

Health and Aging Fellow, NBER & National Institute on Aging, 1997-1998

Service Activities

Member, Social Security Retirement Research Center Sandell Grant Award Committee, 2009-2013
Reviewer / Referee, American Economic Review, American Economic Journal: Economic Policy, Cambridge University Press, Economic Inquiry, Geneva Papers on Risk and Insurance, Industrial and Labor Relations Review, 1999-2013
Reviewer / Referee, Journal of Health Economics, Journal of Human Resources, Journal of Finance, Journal of Political Economy, Journal of Public Economics, Journal of Risk and Insurance, 1999-2013
Reviewer / Referee, Journal of Pension Economics & Finance, National Institute on Aging, National Science Foundation, National Tax Journal, Public Finance and Management, Quarterly Journal of Economics, 1999-2013
Reviewer / Referee, Retirement Research Foundation, Review of Economic Studies, Review of Economics and Statistics, Review of Financial Studies, Risk Management and Insurance Review, 1999-2013
Reviewer / Referee, Social Science Research Council of Canada, University of Chicago Press, 1999-2013
Presenter, The Downside of Defaults, University of Colorado at Boulder Dept of Finance, 2011
Expert Testimony, "Simplifying Security: Encouraging Better Retirement Decisions", U.S. Senate Committee on Health, Education, Labor and Pensions, 2011

Teaching and Research Interests

Financial economics, public policy, employee benefits

Primary research focus is on the interaction of public and private insurance markets with a specific emphasis on retirement security, including annuities, life insurance, long-term care insurance, pensions and Social Security. Additional research interests include stock market participation, dividend taxation, and the effect of inheritances on labor supply.